Manufacturing Segment Expected to Lead Industrial HVAC Market
From 2016 to 2020, the industrial HVAC market worldwide is expected to grow at a compound annual growth rate (CAGR) of over four percent, and the manufacturing industry will lead this market category. This is the result of a market study conducted by Technavio titled “Global Industrial HVAC Market 2016-2020.” The said research gives an in-depth analysis of the industrial market about emerging market trends, revenue, and forecasts on various market segments.
Based on TheNews website, the report determined the categories for the global industrial HVAC market as Manufacturing, Pharmaceutical and biotechnology, Food and beverage.
Technavio anticipates the industrial HVAC market worldwide for the manufacturing industry will grow with four percent CAGR, reaching almost $7.92 billion by 2020. Some of the end-users that are considered part of the manufacturing industry include: Petrochemical, automotive, chemical, textile, semiconductor, aerospace, pulp and paper, wood and metal processing, and plastic and rubber manufacturers. The aviation, automotive, textile, and pulp and paper segments are expected to get the highest demand of CAGR in the next four years.
PHARMACEUTICAL AND BIOTECHNOLOGY
Ajaykumar added that the pharmaceutical and biotechnology industry demands a hygienic manufacturing environment to assure safety. “The industry sees cleanrooms or controlled environments manufacture medicines to prevent cross contamination between two different products or infection from microbial entry and to ensure the improvement of product quality. HVAC systems provide a controlled environment for pharmaceutical and biotechnology manufacturing,” he said.
HVAC systems are used in different applications in the pharmaceutical and biotechnology industry that include cosmetic plants or sterile rooms, monitoring rooms, manufacturing plants, and cell preparation rooms.
FOOD AND BEVERAGE
The food and beverage industry needs comprehensive use of sterile HVAC and effective cooling to assure optimal processing of easily spoiled products. The quality of air also has a great impact on the durability and quality of food and beverages. Most of the demand for HVAC is anticipated to come from the meat processing plants that have advanced and energy-efficient air treatment units.
In the food and beverage industry, HVAC systems are mainly used to avoid air contamination in the food packaging stage. The packaged food industry makes use of different materials like paperboard, glass, aluminum canning, and plastic for particular products such as fruits, meat and seafood, snack items, condiments, vegetables, cheese, and confectioneries. In general, the demand for industrial HVAC is forecast to attain growth due to the rising demand for packaged food and because of upgrading to advanced HVAC systems.
Based on its website, Technavio is a leading market research company that focuses on emerging market trends to support businesses, determine market opportunities, and create effective strategies to enhance market positions. It has offices in the United Kingdom, North America, Asia, and Europe, and develop more than 5,000 research deliverables annually.